UBS Cuts Price Target on The Mosaic Company (MOS) to $30
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UBS maintained a Buy rating on The Mosaic Company (NYSE: MOS), and cut the price target to $30.00 (from $31.00), following the company's 3Q earnings report.
Analyst John Roberts commented, "The upside in 3Q reflected in-line phosphate & potash gross profits, a big beat in international distribution (e.g., Brazil) and lower SG&A and tax expenses. Gross profit of $221M exceeded UBSe of $175M, with most of the upside from Distribution (+$32M). Adjusted EPS is reported EPS of $0.11 plus adding back $0.30 of charges and excluding $0.08 of tax benefit. No changes to 2017-18 estimates. The guidance for 4Q implies continued upside in international distribution, lower SG&A, & sequentially stable phosphate & potash gross profits."
Shares of Mosaic closed at $24.32 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesUBS, Earnings
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